Vodafone VOD is yet another company which seems to think it can describe a fall in revenue as “good” and a sign of “robust momentum” It even goes to the extent of producing better looking statistics which it calls ” alternative performance measures”, regularly reviewed by management to give readers additional information. Presumably management does not like having to review the real highlights, which include a 3.3% fall in group revenue for the quarter to the 30th June, led by Europe with a reported fall of 4.8% Real momentum there but most people would regard it as going in the wrong direction.
Learning Technologies Group LTG expects revenue in the half year to 30th June to show a 62% rise in revenue to a record £20.8m. After making excellent progress as market leader in the high growth e learning sector, the order book stood at record levels at the end of the half year and the integration of Net Dimensions which was acquired in March, has been completed on time. The benefits from this will start to be seen at the beginning of 1918, as planned.
Beazley BEZ Profit before tax for the half year to the 30th June rose by 6% and earnings per share by 17% after a strong performance in the US. The interim dividend is also being increased by 6% to 3.7p per share.
Homeserve plc HSV has seen the continuation of strong growth in the period from the 1st April to the 20th July, with particularly strong momentum coming from North America where it has signed up 24 new partners providing it with access to 53m homes.
Empresaria Group EMR has delivered a record first half performance with strong growth leading to a 26% rise in net fee income. The company”s investment strategy has proved to be a success and the acquisition of Rishworth Aviation is expected to provide further growth in terms of pilot recruitment, in the coming years.